https://www.taxtmi.com/caselaws?id=241116 The Tribunal upheld the CIT(A)'s order, directing the A.O. to verify the records and adjust the deficit of Rs. 46,42,125/- against the surplus of Rs. 55,73,560/-. The total income should be computed accordingly. The appeal of the department was dismissed, confirming that the deficit from previous years can be set off against the current year's surplus for computing taxable income. en-us Fri, 13 Dec 2013 00:00:00 +0530 Tue, 17 Dec 2013 11:11:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241116 The Tribunal upheld the CIT(A)'s order, directing the A.O. to verify the records and adjust the deficit of Rs. 46,42,125/- against the surplus of Rs. 55,73,560/-. The total income should be computed accordingly. The appeal of the department was dismissed, confirming that the deficit from previous years can be set off against the current year's surplus for computing taxable income. Case-Laws Income Tax Fri, 13 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241116